FENNEC PHARMACEUTICALS INC. — Director's Dealing 2020

May 15, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FENNEC PHARMACEUTICALS INC. (FENC)
CIK: 0001211583
Period of Report: 2020-05-15

Reporting Person: Goel Shubh (Chief Commercial Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-15	Stock Option (right to buy)	$6.93	A	25000	Acquired	2030-05-15	Common Shares (25000)	Direct

Footnotes

F1: On May 15, 2020, Fennec Pharmaceuticals, Inc. announced that Shubh Goel was granted an incentive stock option to purchase 25,000 shares of the Issuer's common shares pursuant to the Issuer's Amended and Restated Stock Option Plan. The date of the grant is May 15, 2020.

F2: 1/3 of the shares subject to this option shall vest immediately and may be exercised as of May 15, 2021 (the "Vesting Commencement Date"). 1/24 of the shares subject to this option shall vest immediately and may be exercised as of the last day of each month following the Vesting Commencement Date. As of May 15, 2023 and thereafter, 100% of the total number of shares subject to this option shall be vested.